Dubai – Mubasher: Oman Insurance Company (OIC) posted a 13.5% year-on-year rise in its profits during the first quarter of 2017, according to a bourse statement.

Profits reached AED 25.45 million ($6.93 million) in Q1-17, compared to AED 22.43 million ($6.11 million) in Q1-16.

Revenues from investments rose 28% to AED 25.67 million in Q1-17, compared to AED 20.06 million in Q1-16.

Insurance profits amounted to AED 18.05 million in Q1-17, up 20.6% from AED 14.97 million in Q1-16.